The Week (US)

Startups: EV maker Lordstown could shut down

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An electric-truck startup backed by General Motors is in serious financial trouble, said Ben Foldy in The Wall Street Journal. Lordstown Motors, which raised $675 million when it went public last fall, disclosed this week that “it doesn’t have sufficient cash to start full commercial production.” The warning raises “substantia­l doubts as to the company’s ability to continue” in 2021. Lordstown’s claims of significan­t pre-orders for its planned trucks were met with skepticism from analysts earlier this year.

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